Direct Debit Payment Timings Explained

Direct Debit

The Direct Debit cycle can be confusing if you aren't used to it, so lets break it down.

Example: For a collection Due on Wednesday

Monday: The latest the collection information can be sent to the banks

Tuesday: Direct Debit is logged to be collected

Wednesday: Direct Debit collected from customers bank account and we receive the funds

Thursday: Failures are then applied and money is taken back by the banks

Friday: We settle with you on a next day payment

Card Payments (Via PayPal)

Card payments are instant, whether that's for a one off collection or a subscription. Therefore for a collection on Wednesday, the request would be submitted at around 8am and the success/failure response will be immediate. The money is then cleared in your bank account 2-3 working days later.